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Product Management Bulletin-PM-24-008

Date
To
All Approved Insurance Providers
All Risk Management Agency Field Offices
All Other Interested Parties
From
John W. Underwood for Deputy Administrator
Subject
2024 Crop Year (CY) Commodity Exchange Price Provisions (CEPP) – Peanuts Factors: March 15, 2024, Sales Closing Date (SCD)

The CEPP – Peanuts factors necessary to establish a producer’s amount of protection under the peanut program for the 2024 CY are identified below. The factors are applied to the commodity prices for wheat, cotton, soybean oil, and soybean meal during the discovery period of February 1, 2024, to February 28, 2024. These factors apply only to states with a SCD of March 15, 2024. They are determined in accordance with the Peanut Price Methodology guidelines published and available at rma.usda.gov/-/media/RMA/Policies/CEPP/2021/Commodity-Exchange-Price-Provisions---Peanuts-21-CEPP-PT.

The factor values for peanuts in states and counties with a March 15, 2024, SCD, as specified in the CEPP – Peanuts document for the 2024 CY are shown below.

The values for the exponent factors for each commodity exchange futures contract are:

Commodity Abbreviation Value
Wheat Ewh -0.1339
Cotton Ect 0.4186
Soybean Oil Eso 0.3676
Soybean Meal Esm -0.1322

The values for the price constant and price weighting factors are:

Variable Abbreviation Value
Price Constant ? 0.1376
Price Weighting Formula ? 0.5274

The values for the type factors are:

Type Abbreviation Value
Runner Tru 1.00
Spanish Tsp 1.67
Valencia Tva 1.13
Virginia Tvi 1.13

Additionally, the factor specifications for commodities utilized to determine price volatility are as follows:

Commodity Abbreviation Value
Wheat Gwh -0.1003
Cotton Gct 0.3177
Soybean Oil Gso -0.2488
Soybean Meal Gsm 0.4700

The value for the volatility weighting factor is:

Variable Abbreviation Value
Volatility Weighting Factor V 3.9860

DISPOSAL DATE: December 31, 2024